HealthSavingsAccount-HSA.com
a comprehensive resource of information on health savings accounts
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What do you think of HSAs? Send your comments & questions
This Web site is sponsored by: short term and low cost health insurance including HSA-qualified plans
access to PHCS network discount prices to supplement your HSA
allowable supplemental insurance for HSA plans
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Correction to Health Savings Account Law 9/13/04 - The IRS issued a correction to health savings account law that affects participants over age 65. The new announcement 2004-67, issued September 7 clarifies that Medicare eligibility is not a factor in determining eligibility for a health savings account. Rather, it is the actual enrollment in Medicare that makes an individual ineligible to contribute to a health savings account. This is important with the number of people covered by employer-provided health plans as the primary coverage past age 65.
Note that this change does not affect any aspect of health savings account benefits. Withdrawals from existing health savings accounts for tax-free or taxable purposes can be made at any age, regardless of Medicare participation. |
